Montrose Environmental Group Acquires Environmental Standards, Inc.

Rhea-AI Summary

Montrose Environmental Group (NYSE: MEG) has acquired Environmental Standards, Inc., a recognized environmental consulting firm founded in 1987. This acquisition enhances Montrose's chemistry and auditing services, expanding their capabilities and expertise, particularly in the East Coast markets. Rock Vitale, CEO of Environmental Standards, will join Montrose's team. The transaction is expected to deepen client relationships across various industries, reinforcing Montrose's position in the environmental services sector.

Positive

• Acquisition enhances Montrose's chemistry and auditing services.
• Strengthens technical capabilities and adds talent to the team.
• Expands operations in the East Coast, enhancing market presence.
• Potential to deepen client relationships across various industries.

Negative

• None.

Transaction expands Montrose’s integration of chemistry services nationwide

LITTLE ROCK, Ark. & VALLEY FORGE, Pa.--(BUSINESS WIRE)-- Montrose Environmental Group, Inc. (“Montrose”) (NYSE: MEG) today announced the acquisition of Environmental Standards, Inc. Environmental Standards’ leadership team, including founder and Chief Executive Officer Rock Vitale, CEAC, will join Montrose’s Assessment, Permitting & Response segment. Terms of the transaction were not disclosed.

Founded in 1987 in Valley Forge, Pa., Environmental Standards is an internationally recognized environmental consulting firm providing services in the oil & gas, utilities/energy, chemical, industrial/manufacturing, coal/mining, real estate, legal, financial, insurance, non-regulatory government, and landfill markets. With a presence today in eleven states, the company specializes in environmental chemistry, consulting geosciences, environmental data management, emergency response quality assurance oversight, and auditing/health and safety support.

“The addition of Environmental Standards allows Montrose to further strengthen our chemistry and auditing services, adding technical depth, new capabilities and strong talent complementary to our current operations in the East Coast,” said Joshua LeMaire, Chief Operating Officer of Montrose. “The industry and its peers recognize Environmental Standards as one of the country’s top environmental consulting firms and we are excited to welcome Rock and the entire Environmental Standards team to our growing Montrose family.”

Environmental Standards’ Chief Executive Officer Rock Vitale added: “We are thrilled to join such a well-respected and fast-growing environmental consulting firm. Montrose’s expansive scientific and analytical capabilities, complementary services and global footprint will allow us to deepen our existing client relationships and create new ones within the core industries we serve. We are excited to join Montrose and begin collaborating with our new colleagues on tackling larger and ever-more challenging client engagements.”

About Montrose

Montrose is a leading environmental services company focused on supporting commercial and government organizations as they deal with the challenges of today, and prepare for what’s coming tomorrow. With more than 2500 employees across over 75 locations around the world, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling the Company to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. For more information, visit www.montrose-env.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “intend,” “expect”, and “may”, and other similar expressions that predict or indicate future events or that are not statements of historical matters. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Further, many of these factors are, and may continue to be, amplified by the COVID-19 pandemic. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s filings with the Securities and Exchange Commission for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005234/en/

Montrose Contacts

Investor Relations:

Rodny Nacier

(949) 988-3383

ir@montrose-env.com

Media Relations:

Doug Donsky

(646) 677-1844

Montrose@icrinc.com

Source: Montrose Environmental Group, Inc.

FAQ

What is the significance of Montrose acquiring Environmental Standards, Inc.?

The acquisition strengthens Montrose's service offerings in environmental consulting, particularly in chemistry and auditing.

How will the acquisition of Environmental Standards impact Montrose's future?

It is expected to enhance Montrose's client relationships and expand its market capabilities, particularly on the East Coast.

Who are the key players involved in the acquisition?

Rock Vitale, the CEO of Environmental Standards, will join Montrose's team as part of the acquisition.

When was the acquisition of Environmental Standards by Montrose announced?

The acquisition was announced in a press release on February 7, 2022.

What industries does Environmental Standards, Inc. serve?

Environmental Standards provides services in oil & gas, utilities, energy, manufacturing, and more.